Medi-Touch Case Analysis Essay

Over time, the importance of medical devices will rise. Nearly 10,000 of consumers born between 1946 and 1964 (i.e. Baby Boomers) will retire each day (Friedburg, 2016), and there is a reasonable assumption that a necessary medical device is in the Baby Boomer’s future. Many will sustain a professional career later in life; and, as such, medical device designers will need to fashion products aligned with a mature population’s lively lifestyle (Kapec, n.d.). Johnson & Johnson (J&J) is aware of the upcoming importance of medical devices, and will look at price elasticity, non-price factors, the industry as a whole and its market equilibrium, and related decisions based on the information.

Home healthcare is an extremely competitive industry. According to Harris William&Co Home Health Market report, home healthcare is a 40-billion-dollar industry and it is still growing. One of the reason is home healthcare is less expensive than any other form of care, especially inpatient hospitalization, which patients are required to stay in the hospital for a day or more. Home healthcare’s compelling cost-saving opportunities increases the demand in the industry. Furthermore, population of people over 65 years old is expected to increase more than 40 percent by 2020, so home healthcare industry will continue to grow.

The health care industry is one of the most dynamic and delicate industries in the U.S. having experienced healthy and substantial changes for the last thirty years most of which have aimed to improve health care management and services delivery to the patients. The changes have enabled the integration of technology into the industry such as in the area of informatics, science and research and payment services and clinical treatments. The health care sector has introduced various changes to address disease and health care management such as the Modernization Act of 2003, the Patient Protection Act and Affordable Act, which aim at improving health provision and most

There is a new trend in the health care provider market and the hospital has not stand ahead or abreast of the new trend. Today, it is estimated that 6,400 urgent care centers have been established nationwide (Ferenc & Stempniak, 2015). The American Academy of Urgent Care Medicine reports a higher number, 9,300 urgent care clinics estimation (Ferenc & Stempniak, 2015). Those numbers will grow. It is predicted that the “$14.5 billion urgent care industry will increase by 5.8 percent annually through 2018 to about $18.8 billion” (Ferenc & Stempniak, 2015, p.7). With numbers like that, it benefits the hospital to readjust its delivery of health services to look heavily at the new trend practices. The leaders failed to conduct a market and financial analysis. This may cause the hospital to loose its viability as a competitor. As a result, the hospital cannot identify market trends to stay ahead of the trends and be prepared to meet challenges that come along with those trends. In addition, it has failed to conduct a financial analysis to assess if it is profitable to implement new strategies to meet the market

Case Managers in healthcare are responsible for coordinating the overall care delivered to an individual client or a group of clients, based on the client's health or issues, needs, and interests. In addition, case management is a model of care delivery that integrates patient and provider satisfaction and consideration of cost factors and provides a method of managing individuals’ holistic health concerns. Using the case management approach, healthcare professionals can optimize client self-care, decrease fragmentation of care, provide quality care across a continuum, enhance clients’ quality of life, decrease length of hospitalization, increase client and staff satisfaction, and promote Cost-effective use of scarce resources. Case managers may use the paternalistic approach in unique situations when clients are unable to advocate for themselves or when the clients resist the case managers' attempts to encourage the clients to make their own decisions, express their interests, communicate their choices, or gain knowledge about their rights and health care services and benefits. Nothing is more important to the

Cost – The initial cost of mHealth equipment has acted a barrier in adoption. From the mHealth solution’s development perspective – the development and maintenance costs are also hindering the adoption.

When it come to the demographics of the aging population on the marketing needs and service, patient access to care and satisfaction sometimes suffers. Providing refined services to the patients brought on new pressure for advancement. Unlike health care, the cost of production decreased with technology improvements in other industries. Health care organization has been faced with large capital expenditures in order to keep up with technology to provide better health care services. Physicians and hospitals have had to find ways to provide services and technologies that is more cost effective. There have been times that a patient has been handed off from department to another and from one specialist to another with little regards to the patient’s understanding. Patients have had to wait longer to see the doctor.

Medical Information Technology (MediTech) is a privately held company, which holds approximately 19% of the hospital electronic health record (EHR) market share in the United States (Rouse, M). In 2015, the company 's combination of products and service revenues were $475.5 million, and in that year MediTech employed nearly 3,750 workers, as detailed in publicly available financial reports.

Evaluating a target market’s purchasing power helps to forecast whether consumers can afford a new service, and the age bracket 45 and up tend to have more expendable money to spend compared to those in a younger age bracket. Blood pressure medicine is a technological breakthrough that has helped to improve people’s health. Biotechnology has advance to a level where a drug has been developed that can lower a person’s blood pressure. Offering a service where medications can be delivered to a customer’s home is something that will change the market because it will be more convenient for those who cannot drive to pharmaceutical stores (Kotler, & Keller,

Today, governmental, corporate and individual customers increasingly are resisting insurers' attempts to pass on rising healthcare costs. Healthcare providers' costs meanwhile are escalating in the face of an aging population, expensive technologies and therapies... Both payers and providers must determine their true competencies and find ways to remain profitable despite leaner margins. In 1994, Massachusetts General Hospital (MGH), with its $1 billion budget and its dozens of thousands visits per year, is urged to find a new business model to resist cost pressure… In other words, how MGH could lower its costs while enhancing the quality of care provided?

A healthcare marketer communicates information, creates, and delivers healthcare offerings to healthcare patients, physicians, the public, and the payers. Therefore, healthcare marketers know is it a very competitive field. However, consumers expect to be educated about their health and focusing on wellness and prevention, the initiative aims to bring about a healthier, more informed population. Consumers are willing to pay more for the convenience and quality of care. Physicians want better products to help patients recover faster. Traditional competition in health care involves one or more elements (e.g., price, quality, convenience, and superior products or services); however, competition can also be based on new technology and innovation.

After confirming the female patient’s name and date of birth, she was brought to the radiology department from the emergency room due to trauma to her left hand. She was asked what problems she was having and she explained that her hand got smashed in a car door. The metacarpal region of her hand was swollen, numb, and yellow in color, it was also bleeding from a cut. The incident had happened two hours previously and the swelling was deteriorating. The swelling began in her hand (metacarpal region) and was moving to her arm. She did not have any recent surgeries and she was not pregnant. She was asked to take a seat while her measurements were being taken and the technique was being set. The positions of her hand that were being imaged was

Rising healthcare costs have imposed challenges and created opportunities in various countries, especially in those with private or socialized healthcare systems. In Canada, for example, the federal and provincial governments are struggling to meet their responsibility of providing necessary medical services to the citizens. This, as a result, has created various business opportunities in the country.

According to a report issued by the healthcare consulting firm Price Waterhouse Cooper Health Institute, patients have multitudinous innovations available due to recent healthcare reform and technological innovation, resulting in service delivery when and where patients want and need it. [1] The advancements come at a time when patients need detailed information to manage new, complex caregiving expenses. As a result, many clients rethink and improve how they managing retirements funds. This prudence will likely carry over into other field connected to healthcare service delivery.

Over the last several years, the health care sector has been facing a number of challenges. This is because there are shifts in the population demographics; with one of the largest segments (i.e. the Baby Boomers) become older. Evidence of this can be seen with information complied by Berkowitz (2010). He found that 62% of this segment has at least one of six chronic conditions including: hypertension, diabetes, high cholesterol, heart disease or cancer. Moreover, demand for orthopedic services is expected to increase by 23% in 2020. These figures are showing how there is an increasing need for specialized health care facilities. (Berkowitz, 2010, pg. 96)